COURT ORDERS EXPEDITED HEARING IN VRINGO LAWSUIT AGAINST ZTE IN INDIA
(Thomson Reuters ONE) -
ZTE Ordered To Pay Bond of 50 Million Rupees and To Provide Accounting of
Infringing Products for Past and Future
NEW YORK - December 16, 2013 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in
the innovation, development and monetization of intellectual property and mobile
technologies, today announced that the High Court of Delhi at New Delhi has
ordered an expedited trial in Vringo's lawsuit against ZTE.
According to the Court's order:
The trial shall be completed within six months from the first day when the
matter is listed before the local commissioner. The learned Single Judge may
take-up the matter after completion of trial on an expedited basis.
The order follows the High Court's grant of an ex-parte ad-interim injunction on
November 8, 2013, restraining ZTE from manufacturing, importing, selling,
offering for sale, using, advertising (either directly or indirectly including
through third party websites) infringing products, including mobile handsets,
dongles, tablets, and infrastructure equipment compliant with the CDMA2000
technology associated with India Patent No. 243,980, owned by Vringo's wholly-
owned subsidiary, Vringo Infrastructure, Inc.
Vringo filed a suit against ZTE Telecom India Private Limited, ZTE Corporation,
and Xu Dejun, Chief Executive Officer of ZTE Telecom India Private Limited, in
the High Court of Delhi at New Delhi on November 7, 2013. The lawsuit alleges
infringement of the '980 patent, titled "Mobile Station Operable with Radio
Access Network and a Packet Data Serving Node and a Method for Operating Such
Mobile Station."
In preparation for the expedited hearing, the High Court has set a schedule for
pleadings and discovery and has appointed a commissioner to oversee the process
of recording of evidence at the trial stage. Following a hearing, on December
12, 2013, the High Court passed a consent order ordering ZTE to pay a bond of
50 million rupees (approximately $800,000 USD) in place of the ex-parte ad-
interim injunction. Further, ZTE Corporation and ZTE Telecom India Private
Limited are required to file an affidavit of one of their Directors disclosing
the number of CDMA devices sold by the ZTE entities in India and the revenues
earned from such sales, along with appropriate documents such as invoices and
bills of entry supporting the same for both past and future periods. The Court
permitted Vringo to seek additional relief upon its review of the quantum of
ZTE's sales pursuant to the foregoing disclosure. The Court further directed
that the Indian Customs authorities continue to notify Vringo when all relevant
ZTE goods are imported into India and give Vringo the opportunity to inspect
such goods.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of
intellectual property and mobile technologies. Vringo`s intellectual property
portfolio consists of over 500 patents and patent applications covering telecom
infrastructure, internet search, and mobile technologies. The patents and
patent applications have been developed internally, and acquired from third
parties. For more information, visit: www.vringo.com.
Forward-Looking Statements
This press release includes forward-looking statements, which may be identified
by words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are not limited to:
our inability to license and monetize our patents, including the outcome of the
litigation against online search firms and other companies; our inability to
monetize and recoup our investment with respect to patent assets that we
acquire; our inability to develop and introduce new products and/or develop new
intellectual property; new legislation, regulations or court rulings related to
enforcing patents, that could harm our business and operating results;
unexpected trends in the mobile phone and telecom infrastructure industries; our
inability to raise additional capital to fund our combined operations and
business plan; our inability to maintain the listing of our securities on a
major securities exchange; the potential lack of market acceptance of our
products; potential competition from other providers and products; our
inability to retain key members of our management team; and other risks and
uncertainties and other factors discussed from time to time in our filings with
the Securities and Exchange Commission ("SEC"), including our annual report on
Form 10-K filed with the SEC on March 21, 2013. Vringo expressly disclaims any
obligation to publicly update any forward-looking statements contained herein,
whether as a result of new information, future events or otherwise, except as
required by law.
Contacts
Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein(at)vringoinc.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vringo, Inc. via GlobeNewswire
[HUG#1750219]
Unternehmensinformation / Kurzprofil:
Datum: 16.12.2013 - 19:00 Uhr
Sprache: Deutsch
News-ID 324709
Anzahl Zeichen: 6611
contact information:
Town:
New York
Kategorie:
Business News
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